Bandhan: Transfer of Technology Ceremony held at DefExpo
On February 7, 2020, the transfer of technology ceremony was held at DefExpo 2020. According to the agreement, the organization transferred 15 licenses to 17 industries. The licenses transferred were all on technologies developed by DRDO. The ceremony was named Bandhan.
Highlights
The transfer of technologies is in the field of laser technology, electronics, armaments, material science, naval systems, combat vehicles, sensors and aeronautics. In the year 2019, around 114 technologies were transferred.
The transfer of technologies will boost greatly to the development of Uttar Pradesh Defence Corridor.
Why UP in specific?
The GoI is currently targeting to increase the exports of Defence Sector. In order to achieve this, it is encouraging private firms to increase their defence production. The UP state government has allocated land in the Defence Corridors for the private sectors to build defence industries.
Other Key takeaways
The 11th edition of DefExpo 2020 being held at Lucknow is the largest of all the defence exhibition held so far. So far, the DefExpo has launched 13 products, 71 MoUs and 18 transfer of technologies. More than 200 agreements have been signed. The Uttar Pradesh Government alone has signed 23 MoUs of worth Rs 50,000 crores.
The steps will help India achieve its 5 billion USD target in next 5 years.
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Month: Current Affairs - February, 2020